There are considerable risks associated with the growth of financial services conglomerates.
At Marsh & McClennan, a financial services conglomerate, about 700 employees who worked in one of the two towers were still missing.
The embattled fruit, electronics and services conglomerate was one of Britain's fastest-growing companies in the 1980's.
Vanguard definitely does not intend to join the rush to build a financial services conglomerate, he said.
The group is a large financial services conglomerate, with over US$1.0 billion in assets.
As financial services conglomerates have added a wide array of operations in recent years, the possibility of conflicts of interest has also grown.
The Treasury proposal would allow the financial services conglomerate to further broaden its base by buying a full-service bank.
It performed well in the mid-1990's, building a huge media and financial services conglomerate.
For financial services conglomerates, the credit card is a pocket-size opportunity to cross-sell.
Citigroup, the nation's biggest financial services conglomerate, had net income of $3.59 billion, or $1.04 a diluted share, in the first quarter.